XRP Whales Eye $10.11 Amid ETF Outflows

Whales Accumulate XRP Amidst ETF Outflows

Large holders of XRP have been actively accumulating millions of tokens, adding approximately 65.32 million XRP, valued at $72 million at current prices, over a four-day period. This significant accumulation by “whales” contrasts sharply with the ongoing capital outflows from U.S. spot exchange-traded funds (ETFs). Investors have withdrawn roughly $18 million from these ETFs across two consecutive trading sessions.

The divergent signals emerge as XRP trades near the $1.04 mark, struggling to rebound from a recent correction. The token has experienced a 35% decline from its October peak of $1.60, placing considerable pressure on bullish market expectations.

Despite the current market conditions, crypto analyst Dark Defender maintains an ambitious price target of $10.11 for XRP. Their analysis, based on Elliott Wave theory, suggests a potential recovery into double-digit territory, even as broader market sentiment deteriorates.

Institutional Investors Diverge from Whale Activity

Data indicates that substantial XRP holders acquired 65.32 million tokens between November 7 and November 11, representing nearly $72 million in purchases at prevailing market rates.

This accumulation stands in stark opposition to institutional investment trends. U.S. spot XRP ETFs recorded net outflows of approximately $10.4 million on November 9, followed by an additional $7.6 million on November 10, totaling $18 million in withdrawals over the two sessions. Grayscale’s GXRP was the primary driver of the November 10 outflow, shedding $7.2 million.

The contrasting behaviors raise questions about whether larger holders are positioning for a recovery while ETF investors reduce their exposure. However, the growing interest from large XRP wallets suggests that some investors view the current correction as an opportunity rather than a reason to exit the market.

Technical Indicators Signal Caution

The technical outlook for XRP remains challenging. The token’s 14-day Relative Strength Index (RSI) has fallen to approximately 23, indicating deeply oversold conditions. The Moving Average Convergence Divergence (MACD) also continues to register negative readings.

The next significant support level is identified around $0.9852, which aligns with the August low. A breach of this level could trigger further selling pressure.

Alternative Investment Opportunities Emerge

While XRP investors anticipate a potential surge towards $10.11, some sophisticated investors are exploring earlier opportunities in smaller-cap cryptocurrency projects. Bitcoin Hyper ($HYPER) is positioning itself as one such alternative, with its presale scheduled to conclude on November 26.

The project has already raised over $32 million, with tokens currently priced at $0.0137. Its proposed Bitcoin Layer 2 infrastructure aims to integrate Bitcoin’s security with the Solana Virtual Machine (SVM) for enhanced transaction speed and smart contract capabilities within the Bitcoin ecosystem.

The investment thesis for Bitcoin Hyper centers on its smaller initial market capitalization, offering greater potential for explosive growth compared to XRP, which already possesses a substantial market cap. Even a return to XRP’s previous all-time high would represent a less than fourfold increase from current prices. Bitcoin Hyper, starting from a significantly lower valuation, has more room for substantial percentage gains if adoption and liquidity materialize.

Holders of HYPER tokens can also participate in staking, with advertised rewards of up to 35% APY, providing an additional potential return stream for early investors.

The November 26 launch date presents a limited window for acquiring HYPER tokens at the current price before the project enters its next phase. The substantial $32 million raised indicates that Bitcoin Hyper is attracting attention from traders seeking opportunities beyond established large-cap cryptocurrencies.

For XRP holders concerned about narrowing upside potential, HYPER offers a distinct risk-and-reward profile, characterized by a smaller starting valuation, staking incentives, and an upcoming launch that could quickly test its growth trajectory.

Analyst’s Bullish Outlook Faces Headwinds

Dark Defender’s optimistic forecast for XRP stands in contrast to its current price weakness. The analyst’s Elliott Wave projection targets $10.1101, with an intermediate advance towards $7.07, followed by a correction near $4.10, before a final rally to the $10.11 level.

The analyst reiterated this chart structure on November 6, highlighting $1.21 and $1.12 as crucial support levels. However, XRP is currently trading below both these levels, posing a significant challenge to the bullish scenario. A sustained recovery would require XRP to reclaim these areas to regain stronger technical support.

At its current price of approximately $1.04, XRP would need to appreciate by around 869% to reach the $10.11 target. Such a move would necessitate considerably stronger demand, a resurgence of market confidence, and a sustained recovery across the broader cryptocurrency market.

If large holders continue to absorb available supply, XRP may find sufficient buying pressure to stabilize. However, persistent ETF redemptions and a failure to reclaim key support levels could render the $10.11 projection increasingly improbable.